FDIC Law, Regulations, Related Acts

1000 - Federal Deposit Insurance Act

SEC. 34. REWARD FOR INFORMATION LEADING TO RECOVERIES OR CIVIL
PENALTIES.

(a) In General.--An appropriate Federal banking agency, with
the concurrence of the Attorney General, may pay a reward to a person
who provides original information which leads to--

(1) recovery of a criminal fine, restitution, or civil penalty--

(A) under--

(i) the Federal Deposit Insurance Act;

(ii) the Federal Credit Union Act [12 U.S.C. § 1751 et seq.];

(iii) section 5213, 5239(b), or 5240 of the Revised Statutes;

(iv) the Federal Reserve Act [12 U.S.C. § 221 et seq.];

(v) the Bank Holding Company Act Amendments of 1970;

(vi) the Bank Holding Company Act of 1956 [12 U.S.C. § 1841 et
seq.];

(vii) the Home Owners' Loan Act [12 U.S.C. § 1461 et seq.];
or

(viii) section 3663 of title 18, United States Code, pursuant to
a conviction for an offense referred to in subparagraph (B) of this
paragraph;

(B) pursuant to a conviction for an offense under section 215,
656, 657, 1005, 1006, 1007, 1014, 1341, 1343, or 1344 of title 18,
United States Code, affecting a depository institution insured by the
Federal Deposit Insurance Corporation, or for a conspiracy to commit
such an offense; or

(C) under section 951 of the Financial Institutions Reform,
Recovery, and Enforcement Act of 1989; or

(2) a forfeiture under section 981 or 982 of title 18, United
States Code, that arises in connection with a depository institution
insured by the Federal Deposit Insurance Corporation.

[Codified to 12 U.S.C. 1831k(a)]

[Source: Section 2[34(a)] of the Act of September 21, 1950 (Pub.
L. No. 797), effective September 21, 1950, as added by section 933(a)
of title IX of the Act of August 9, 1989 (Pub. L. No. 101--73; 103
Stat. 495), effective August 9, 1989; amended by section 2586(l) of
title XXV of the Act of November 29, 1990 (Pub. L. No. 101--647; 104
Stat. 4903), effective November 29, 1990; section 602(a)(62) and (63)
of title VI of the Act of September 23, 1994 (Pub. L. No. 103--325; 108
Stat. 2291), effective September 23, 1994]

(b) PERCENTAGE LIMITATION.--An appropriate Federal banking
agency may not pay a reward under subsection (a) of this section of
more than 25 percent of the amount of the fine, penalty, restitution,
or forfeiture or $100,000, whichever is less.

[Codified to 12 U.S.C. 1831k(b)]

[Source: Section 2[34(b)] of the Act of September 21, 1950 (Pub.
L. No. 797), effective September 21, 1950, as added by section 933(a)
of title IX of the Act of August 9, 1989 (Pub. L. No. 101--73; 103
Stat. 496), effective August 9, 1989]

(1) an officer or employee of the United States or of a State or
local government who provides information described in subsection (a)
of this section, obtained in the performance of official duties; or

(2) a person who--

(A) deliberately causes or participates in the alleged violation
of law or regulation, or

(B) knowingly or recklessly provides substantially false
information to such an agency or the Attorney General.

[Codified to 12 U.S.C. 1831k(c)]

[Source: Section 2[34(c)] of the Act of September 21, 1950 (Pub.
L. No. 797), effective September 21, 1950, as added by section 933(a)
of title IX of the Act of August 9, 1989 (Pub. L. No. 101--73; 103
Stat. 496), effective August 9, 1989]

(d) NONREVIEWABILITY.--Any agency decision under this
section is final and not reviewable by any court.

[Codified to 12 U.S.C. 1831k(d)]

[Source: Section 2[34(d)] of the Act of September 21, 1950 (Pub.
L. No. 797), effective September 21, 1950, as added by section 933(a)
of title IX of the Act of August 9, 1989 (Pub. L. No. 101--73; Stat.
496), effective August 9, 1989]